The LCC Projects IPO opened for subscription on Wednesday, September 9. The ₹427 crore IPO will remain for subscription till 11 September.
The shares of LCC Projects IPO are commanding a premium of ₹34 in the unlisted market. The GMP of LCC Projects IPO is +34, according to Investorgain. This indicates an estimated listing price of ₹180, which is 23.29% higher than the IPO price of ₹146.
LCC Projects IPO subscription status
The LCC Projects IPO has been subscribed over 1.32 times on the first day of bidding on 9 September. The issue has received 2,76,92,388 bids so far, as compared to 2,09,27,281 offered.
The retail portion has been booked 1.26% so far. Meanwhile, non-institutional investors (NIIs) have been subscribed 1.72%. QIB section has been booked 1.14%.
LCC Projects IPO review
Brokerage firm Anand Rathi has given ‘subscribe -long-term’ rating to the LCC Projects IPO, saying that the company is valued at 14.8x FY26 P/E and 9.61x FY26 EV/EBITDA, implying a post-issue market capitalization of ₹42,292 million.
“The company’s strong order book, improving profitability and established execution capabilities provide a favourable growth outlook. However, the business remains exposed to government project dependence, customer and geographical concentration, project execution risks and relatively high leverage, warranting a balanced valuation outlook,” he said.
Meanwhile, brokerage firm Swastika Investmart said that the company has ₹7,953 Cr Order Book and Around 83% of the order book is still related to irrigation and water-supply projects.
“LCC Projects as a stable infrastructure growth play. Its combination of modest valuation (~14x FY26 P/E), high return metrics, strong order book, and immediate debt reduction via IPO proceeds makes it suitable for long term investors,” it added.
LCC Projects IPO details
The LCC Projects IPO is a book-built issue worth ₹427.14 crore, comprising a fresh issue of 1.77 crore equity shares aggregating to ₹258 crore and an offer for sale (OFS) of 1.16 crore shares worth ₹169.14 crore.
The IPO will remain open for subscription until September 11, 2026, with the allotment expected to be finalised on September 15. The equity shares are proposed to be listed on both the NSE and BSE, with the tentative listing date set for September 17, 2026.
LCC Projects has fixed the IPO price band at ₹139– ₹146 per share, while the lot size has been set at 102 shares. At the upper end of the price band, retail investors will need to invest a minimum of ₹14,892 for one lot.
Motilal Oswal Investment Advisors Ltd. is acting as the book-running lead manager for the issue, while Kfin Technologies Ltd. has been appointed as the registrar.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
